Market Intelligence · FL / Panama City

Panama City, FL 32409 Housing Market

The typical home value in Panama City's 32409 ZIP is $372,128, up 1.5% over the past year. The median list price stands at $414,350, with homes spending a median of 86 days on the market as of September 2026.

Updated September 2026Median value$372K

The median home value in Panama City, FL 32409 is $372K as of September 2026, up 1.5% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Licensed pros in 32409.

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Kinsey Haddock

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Whether you're interested in buying or selling a home, there is no bigger decision than choosing the right person who will represent you during the transaction. A qualified, competent agent makes all the difference by helping you navigate the many decisions that arise when buying or selling a home. You need someone who has the experience, expertise and drive to help you find the right fit for you. Kinsey Haddock is here for you! We're dedicated to delivering outstanding service, and results.

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Typical 32409 range

$342K to $402K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+1.5% over 12 months

Typical home value in 32409 over the last 12 months: $367K in Sep 2025 to $372K in Sep 2026 (+1.5%).

Sep 2025$367K

Sep 2026$372K

The numbers

What is the 32409 housing market like?

Typical home value

$372K

Up1.5%YoY

Median list price

$414K

Down1.8%MoM

Days on market

86

Up28.4%MoM

Homes for sale

82

Up1.2%MoM

Price cuts

22.1%

Up27.3%MoM

New listings

14

Down65.0%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

32409 housing market forecast 2027

-0.2%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 32409 to stay roughly flat by September 2027 (down 0.2%).

Over the 12 months through September 2026, typical home values in 32409 rose 1.5%, per the Zillow Home Value Index.

Will home prices drop in 32409?

Zillow's forecast does not point to a meaningful drop: it expects typical home values in 32409 to stay roughly flat by September 2027 (down 0.2%), after a 1.5% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 32409 home prices compare?

  • 32409$372,128
  • Panama City$288,952
  • Florida$344,436
  • United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Panama City: 5 ZIPs; Florida: 923 ZIPs; United States: 26,262 ZIPs).

Context

Panama City's 32409 ZIP shows a modest market with 82 homes for sale and 14 new listings as of September 2026. The median days on market of 86 suggests homes are taking several months to sell. Nearly one in five listings, at 22.1%, have seen a price cut, indicating some negotiation in the market. Home values are up slightly year over year, but the pace of sales and prevalence of price adjustments suggest buyers have options and sellers should price strategically.

Monthly payment

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20% · $74,426

Common questions

What people ask us.

What is a typical home worth in 32409?

As of September 2026, the typical home value in Panama City's 32409 ZIP is $372,128, up 1.5% over the past year.

How long do homes stay on the market in 32409?

The median days on market is 86 as of September 2026, meaning most homes take several months to find a buyer.

How many homes are currently for sale in 32409?

There are 82 homes for sale with 14 new listings as of September 2026.

Discover

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Guides for sellers.